Tharisa launches Level 1 ADR Programme

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability) 

(Registration number HE223412)

JSE share code: THA 

LSE share code: THS 

A2X share code: THA 

ISIN: CY0103562118

ADR code: THARY

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company')

Tharisa launches Level 1 American Depositary Receipt programme

Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, has completed the establishment of a Level 1 American Depositary Receipt (ADR) programme (the Programme), with J.P. Morgan appointed as the depositary bank.

The Programme is effective from 8 June 2026 under the ticker symbol THARY.

The ADR Programme will enable US-based investors to gain exposure to Tharisa through USD denominated ADRs trading in the United States of America (USA) over-the-counter (OTC) market. Each Tharisa ADR will represent ten ordinary shares of the Company. The underlying ordinary shares will continue to trade on the Johannesburg Stock Exchange (JSE: THA) and the London Stock Exchange (LSE: THS).

STRATEGIC RATIONALE

The ADR Programme is part of Tharisa's broader strategy to enhance accessibility of its securities to international investors, with a particular focus on the USA where interest in critical and strategic minerals continues to grow. Platinum group metals (PGMs) and chrome as the core commodities mined by Tharisa, are recognised as critical minerals in the USA and other major economies, and as such attract increasing attention from investors seeking exposure to the energy transition, clean air technologies and future facing technologies including AI.

Phoevos Pouroulis, CEO of Tharisa, commented:

'The establishment of our ADR programme marks a meaningful step in broadening Tharisa's global investor reach. The United States is an attractive jurisdiction, and we are seeing significant interest in critical and strategic minerals, the very commodities at the heart of our business. All of the commodities we mine fall into both categories, and this programme gives US investors a simple, accessible and familiar mechanism through which to access our equity story. It is consistent with our strategy of enhancing optionality, improving liquidity and reaching the widest possible pool of institutional and retail investors who recognise the value of what we are building at Tharisa.'

IMPACT ON SHAREHOLDERS

The Programme has been registered with the United States Securities and Exchange Commission (SEC). As a Level 1 programme the Company is exempt from the ongoing registration and reporting requirements of the United States Securities Exchange Act of 1934, as amended.  The establishment of the Programme does not affect the rights or entitlements of existing shareholders. No new ordinary shares are being issued and there is no dilution of existing shareholdings as a result of the Programme. Existing shareholders on the JSE and LSE registers are not required to take any action in connection with this announcement.

Paphos, Cyprus

8 June 2026

JSE Sponsor

Investec Bank Limited

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Investor Relations Contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

[email protected]

Broker Contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / Georgia Langoulant

+44 207 418 8900

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Nick Macann

+44 207 236 1010

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Lee / Detlir Elezi

+44 203 207 7800

About Tharisa - delivering on expansion and growth opportunities, commercialising technology solutions

Tharisa is an integrated resource group playing a pivotal role in the global energy transition and the decarbonisation of economies. Leveraging innovation and technology, Tharisa covers the entire value chain - exploration, mining, processing, beneficiation, marketing, sales, and logistics - for PGMs and chrome concentrates. The low cost, multigenerational Tharisa Mine is located on the southwestern limb of the Bushveld Complex, South Africa, the largest source of PGMs and chrome globally. Development of the Karo Platinum Project, a tier-one PGM project on Zimbabwe's Great Dyke, further reinforces Tharisa's growth strategy. Investments in downstream beneficiation, including proven chrome and PGM alloy production, will add significant value when commercialised. Tharisa is committed to reducing carbon emissions by 30% by 2030 and the sustainability roadmap targets net carbon neutrality by 2050. Through Redox One, Tharisa is advancing proprietary iron-chromium redox flow battery technology, utilising the very commodities it mines to support long-duration energy storage - a key component in the transition to renewable energy.

Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the London Stock Exchange (LSE: THS, Equity Shares (Transition) Category) and trades under THARY as a Level 1 American Depositary Receipt.